: The 36th India International Garment Fair (IIGF), which concluded on Jan 26th , generated business worth over $80 million, recording an over 15% growth over the previous edition. 340 exhibitors across India showcased their 2006 autumn/winter collections and over 600 international buyers and buying houses from 65 countries placed huge orders that exceeded the initial projected target of $70 million. The 'Made in India look' has attained wide global popularity across the fashion circuit. These orders are only a reflection of this global acceptance. In this year's fair, we have exceeded our initial projected target of $70 million by $10 million," Apparel Export Promotion Council (AEPC) chairperson Vijay Agarwal told IANS. "IIGF has received a terrific response from the Indian exporters and as well as international buyers. The number of exporters participating this time increased by 44 percent. " IIGF, now in its 36th edition, was launched in 1988 as a direct platform for the small, medium and medium-large
|
| exporters. It has successfully showcased spring/summer and autumn/winter collections every year. According to Agarwal, the apparel export industry has the potential to become one of the key growth drivers in the future with exports expected to grow at 18 percent annually. "According to a WTO report, dismantling of quotas by the EU and the US will take Indian clothing exports to $13 billion by the end of the decade compared to $6.2 billion now," Agarwal said. "An additional investment of $2.4 billion will be required in the next few years to achieve this target. India is tipped to become the biggest supplier to the US and EU in the post-quota era after China. "We are not afraid of China but the government needs to be softer on the industry. They have to make labour laws more flexible. We need contracted labour, not hire and fire policy," Agarwal said. "The infrastructure of the industry also needs to be improved and we expect some sops in power tariffs. We expect the government to extend tax benefits and help out in finance costs but so far there has been no feedback." 
|
|
